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Rupee depreciates to life time low

22 Sep 2022 10:56 am
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Mumbai, September 22 (Commoditiescontrol) Rupee depreciated to lifetime low level, after the Federal Reserve raised its interest rates by 75 basis points for the third consecutive time, following which dollar index surged over 111 levels. Rupee and other Asian currencies were trading on a lower levels.

Today as expected rupee is trading at life time levels @80.40 levels. Eur against dollar is also trading at 20 yrs levels at 0.9822 and GBP against dollar is also trading at 29 years low levels at 1.1234 levels, said Anuj Gupta, a trade analyst.

We are expecting due to the hawkish statement of FED major currencies against dollar may depreciate. Now rupee may further depreciate and test 81 to 82 levels very soon.

(By Commodities control Bureau; +91 9820130172)

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